Financial Terms and Simple Calculations

Price is the amount a business asks a customer to pay for a single product.
Revenue is the income that a firm receives from selling its goods or services.
Sales refers to the number of products sold by a business.
Costs are the spending that is necessary to set up and run a business.
Profit is the amount by which a business's revenue from all its sales exceeds its costs.
Loss is the amount by which a business's costs are larger than its revenue from all sales.